Morgan Stanley
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Embassy Office Parks Reit filed for India’s first property trust this week, pushing ahead with an IPO that has been in the works for years. The joint venture of Blackstone and its local partner will be hoping to exorcise the ghosts of infrastructure investment trusts (InvIt) past, with the pressure on for a successful outcome. John Loh reports. -
This evening, 3i is selling another chunk of its stake in Basic Fit, the Dutch operator of affordable gyms, via an accelerated bookbuild led Morgan Stanley and ABN Amro.
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German publishing company Bertelsmann returned to the euro corporate bond market on Tuesday to remarket a deal it had pulled in May after setting the spread. This time the issuer priced the transaction, but it had to pay a much larger new issue premium than others have done on recent deals.
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Shandong Gold Mining has raised HK$4.8bn ($616.8m) after sealing its IPO at the bottom of price guidance, according to a senior banker on the deal.
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Two Samsung-linked units raised W927bn ($829m) from a sell-down in Samsung C&T Corp on Thursday, capping a flurry of overnight block trades from South Korea this week.
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Nestle, Électrcité de France and BP have led a stampede to the dollar market ahead of an expected rate hike by the Federal Reserve next week, as credit markets shrugged off trade wars between the US and China.
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Japanese issuers are rarely seen in the European corporate bond markets, but electric motor manufacturer Nidec made it two Japanese corporate bond sales in two days, following Japan Tobacco’s multi-tranche deal on Wednesday.
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Guarantor: Kingdom of Belgium (51.41%), Republic of France (45.59%) and Grand Duchy of Luxembourg (3.00%)
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Cryptocurrencies have not had a great year. Total market capitalisation of the sector is down 75% from the highs of January, falling roughly in line with what the bears predicted. But that hasn’t seemed to slow institutions’ attempts to get involved.
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BOC Aviation made its fourth dollar market outing of the year on Wednesday, locking up $500m from a tightly priced floating rate transaction.
